How do I show that a payment to another bank account outside Manager is for repayment of the “Loan from personal account” set up as a liability? How I’ve got it set up just adds to the loan rather than deducting.
You have not provided nearly enough information to understand your situation. But a great many things appear wrong. For one thing, your balance sheet says your business is owed money by your loan; in other words, you have overpaid it. For another, you need to clear all the mistakes in Suspense. Read the Guide about that.
I am a soletrader who has been recommended this system - I am not an accountant. I am spending hours/days doing my best to set it up. Some aspects I find easy, some not at all. I do spend a long time searching the guides and forum before I post asking for help.
You can see that I have gone through and allocated to accounts rather than leaving as “suspense”.
I am finding it extremely time consuming having to do each entry individually rather than being able to bulk change for entries such as my weekly rent which is exactly the same.
Rather than criticise I would appreciate constructive support if you can tell that I’m doing it all wrong.
No, your first screen shot shows a substantial balance in Suspense. Whatever you think you have done, you have not cleared those transactions. Click on the blue balance for the Suspense account. Every transaction in the list that comes up is a mistake of some type. It is not possible for anyone to troubleshoot on the basis of what you have shown.
Your second screen shot seems to be from an intermediate stage of some process, such as a bank statement import or a reconciliation. Whatever the process was, it was not completed.
From both this thread and another you started, you seem to have unrealistic expectations of what other forum members can do to help you understand the program. Remember, we can see only what you show us, and you have not shown the Edit screen of a single transaction. To get help, you need to be specific and thorough and illustrate everything. It does no good to ask for help without telling us exactly what you’ve done, what the result was, and why you think it is wrong.
Using Bank rules is the key to reducing this repetitive work.
Find rules which with a specific enough condition such that it only finds the required entries. You will then be able to check them and do a bulk apply.
Hi, I am also not an accountant, but I think you have this set-up wrong. If this “Loan” is meant to be money that the business has borrowed then the liability should be a positive number - but it is showing a negative number.
If you post some screenshots of your set-up then we may be able to assist you.